PSHZF vs. BND
PSHZF (Pershing Square Holdings, Ltd.) is a stock, while BND (Vanguard Total Bond Market ETF) is Total Bond Market fund tracking the Bloomberg U.S. Aggregate Float Adjusted Index. Over the past 10 years, PSHZF returned 13.79%/yr vs 1.34%/yr for BND. Their 0.00 correlation means their historical movements had little consistent relationship.
Performance
PSHZF vs. BND - Performance Comparison
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Returns By Period
In the year-to-date period, PSHZF achieves a -23.42% return, which is significantly lower than BND's -0.33% return. Over the past 10 years, PSHZF has outperformed BND with an annualized return of 13.79%, while BND has yielded a comparatively lower 1.34% annualized return.
PSHZF
- 1D
- 0.22%
- 1M
- 0.24%
- 6M
- -20.99%
- YTD
- -23.42%
- 1Y
- -7.76%
- 3Y*
- 10.45%
- 5Y*
- 8.42%
- 10Y*
- 13.79%
- ALL TIME*
- 6.81%
BND
- 1D
- -0.36%
- 1M
- -1.48%
- 6M
- -0.57%
- YTD
- -0.33%
- 1Y
- 2.60%
- 3Y*
- 3.84%
- 5Y*
- -0.38%
- 10Y*
- 1.34%
- ALL TIME*
- 3.00%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $435.84M | $571.66M | $593.98M | |
| $613.82K | $630.05K | $999.18K |
PSHZF vs. BND - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PSHZF Pershing Square Holdings, Ltd. | -23.42% | 36.74% | 4.57% | 37.43% | -15.13% | 17.80% | 89.27% | 53.54% | -8.09% | -5.08% |
BND Vanguard Total Bond Market ETF | -0.33% | 7.08% | 1.38% | 5.65% | -13.11% | -1.86% | 7.71% | 8.84% | -0.12% | 3.57% |
Correlation
The correlation between PSHZF and BND is 0.26, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.26 |
Correlation (3Y) Balances recent behavior with more history. | 0.13 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.11 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.03 |
Correlation (All Time) Calculated using the full available price history since Feb 10, 2015 | 0.00 |
Over the past year, PSHZF and BND have become more correlated (0.26) than their long-term average of 0.00, meaning their price movements have been converging.
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Return for Risk
PSHZF vs. BND — Risk / Return Rank
PSHZF
BND
PSHZF vs. BND - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Pershing Square Holdings, Ltd. (PSHZF) and Vanguard Total Bond Market ETF (BND). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| PSHZF | BND | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.05 | ||
| Sortino ratioReturn per unit of downside risk | -1.38 | ||
| Omega ratioGain probability vs. loss probability | 0.96 | 1.12 | -0.16 |
| Calmar ratioReturn relative to maximum drawdown | -0.29 | 0.97 | -1.26 |
| Martin ratioReturn relative to average drawdown | -0.57 | 2.48 | -3.05 |
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Drawdowns
PSHZF vs. BND - Drawdown Comparison
The maximum PSHZF drawdown since its inception was -56.97%, which is greater than BND's maximum drawdown of -18.58%. Use the drawdown chart below to compare losses from any high point for PSHZF and BND.
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Drawdown Indicators
| PSHZF | BND | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -56.97% | -18.58% | -38.39% |
Max Drawdown (1Y)Largest decline over 1 year | -27.24% | -2.68% | -24.56% |
Max Drawdown (3Y)Largest decline over 3 years | -27.24% | -5.28% | -21.96% |
Max Drawdown (5Y)Largest decline over 5 years | -31.46% | -17.91% | -13.55% |
Max Drawdown (10Y)Largest decline over 10 years | -32.96% | -18.58% | -14.38% |
Current DrawdownCurrent decline from peak | -25.94% | -2.95% | -22.99% |
Average DrawdownAverage peak-to-trough decline | -23.16% | -3.06% | -20.10% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 13.62% | 1.05% | +12.57% |
Volatility
PSHZF vs. BND - Volatility Comparison
Pershing Square Holdings, Ltd. (PSHZF) has a higher volatility of 7.58% compared to Vanguard Total Bond Market ETF (BND) at 1.02%. This indicates that PSHZF's price experiences larger fluctuations and is considered to be riskier than BND based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PSHZF | BND | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.58% | 1.02% | +6.56% |
Volatility (6M)Calculated over the trailing 6-month period | 18.11% | 2.88% | +15.23% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.06% | 3.73% | +19.33% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 24.53% | 6.03% | +18.50% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.03% | 5.53% | +19.50% |
Dividends
PSHZF vs. BND - Dividend Comparison
PSHZF's dividend yield for the trailing twelve months is around 1.40%, less than BND's 4.02% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BND Vanguard Total Bond Market ETF | 4.02% | 3.86% | 3.67% | 3.09% | 2.60% | 2.12% | 2.38% | 2.72% | 2.81% | 2.54% | 2.51% | 2.57% |
PSHZF Pershing Square Holdings, Ltd. | 1.40% | 1.01% | 1.21% | 1.12% | 1.38% | 1.14% | 1.35% | 1.57% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
PSHZF and BND have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PSHZF has higher volatility (7.58%) compared to BND (1.02%). In terms of maximum drawdown, PSHZF dropped -56.97% vs BND's -18.58%.
BND currently has the higher Sharpe Ratio (0.70 vs -0.34), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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